Buy Harita Seating Systems; target of Rs 235: Firstcall

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26 Aug, 2025 12:21

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Firstcall Research's report on Harita Seating Systems"Harita Seating Systems Ltd provides complete seating solutions for driver and cabin seating for commercial vehicles, tractors and constructionequipment, as well as passenger seats for buses across all segments and has established itself as a leader in these segments in the country for seating systems. The company has reported its financial results for the quarter ended 30th June, 2015.""The company has achieved a turnover of Rs. 748.18 million for the 1st quarter of the financial year 2016 as against Rs. 628.66 million in the corresponding quarter of the previous year. EBITDA of Rs. 59.67 million in Q1 FY16 and decrease of 42.11% against the corresponding period of last year. In Q1 FY16, net profit of Rs. 32.69 million compared to Rs. 15.98 million in Q1 FY15. The company has reported an EPS of Rs. 4.21 for the 1st quarter as against an EPS of Rs. 2.06 in the corresponding quarter of the previous year.OUTLOOK AND CONCLUSIONAt the current market price of Rs. 206.90, the stock P/E ratio is at 15.96 x FY16E and 13.06 x FY17E respectively.Earning per share (EPS) of the company for the earnings for FY16E and FY17E is seen at Rs.12.96 and Rs.15.85 respectively.Net Sales and Profit after Tax of the company are expected to grow at a CAGR of 4% over 2014 to 2017E respectively.On the basis of EV/EBITDA, the stock trades at 9.12 x for FY16E and 7.96 x for FY17E.Price to Book Value of the stock is expected to be at 2.93 x and 2.62 x respectively for FY16E and FY17E."We recommend ‘BUY’ in this particular scrip with a target price of Rs 235 for Medium to Long term investment", says Firstcall Research Report.For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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